Ib Fredslund Madsen, chief strategist at Denmark’s Jyske Bank, wrote in a report that financial markets are gradually discounting the short-term geopolitical uncertainty stemming from the possibility of the U.S. removing Venezuelan President Maduro through military action. He noted that in recent years, investors have weathered numerous seemingly intense geopolitical events, none of which have had a lasting impact on the markets, and the situation in Venezuela is unlikely to be an exception. Venezuela holds the world’s largest proven oil reserves, but its actual production is very limited due to years of underinvestment, mismanagement, and the withdrawal of most Western oil companies.